Free calculator
What does 0.5% really cost on your mortgage?
Compare two interest rates side-by-side. See the dollar difference every month, every year, and over the full life of your loan. Same math ASIC MoneySmart uses.
Loan amount
$
Loan term (years)
Current rate
%
Comparison rate
%
Comparison rate is what you might get with a rate review or from a competitor. Even 0.25% can add up — try both directions.
Difference over the life of your loan
+$68,605
Moving from 6% to 5.5% saves you $68,605 over 30 years.
Side by side
At current rate
6%
Monthly
$3,597
Total interest
$695,029
At comparison rate
5.5%
Monthly
$3,407
Total interest
$626,424
Every month+$191
Every year+$2,287
Over 5 years+$11,434
Over 10 years+$22,868
Over 30 years (total interest)+$68,605
$69kis the difference. That’s money that stays in your pocket — or doesn’t. Your bank knows what rate you’re on. They know what better rates exist. They don’t call you. But if you call them and ask for a rate review, they often just say yes.
Standard P&I amortisation formula · same math ASIC MoneySmart calculator uses · not financial advice
How this calculator is built
Built by an Australian Chartered Accountant— the same engine the paid NestWise dashboard runs. Every rate table is verified against the source below every 1 July, 20 March, and 20 September and covered by a 200+ scenario regression suite.
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